Gold ticks up as investors weigh Fed path, mounting debt concerns
GLD•Spot gold rose 0.3% to $4,122.36 an ounce on Thursday after hitting its lowest level since August 5 on Wednesday. December U.S. gold futures gained 0.2% to $4,147.10.
1. Gold edges higher
Spot gold rose 0.3% to $4,122.36 an ounce by 12:20 p.m. EDT, recovering after touching its lowest level since August 5 in the previous session. December U.S. gold futures gained 0.2% to $4,147.10.
2. Fed path remains uncertain
Investors weighed the Federal Reserve’s uncertain rate path and concerns about U.S. debt. Minutes showed policymakers were divided last month over the rationale for raising rates, while Governor Christopher Waller said additional hikes would likely be needed but left open the possibility of an October pause. Traders saw a 21% chance of an October hike and an 88% chance of a December increase.
3. Other metals diverge
The dollar and 10-year Treasury yields remained elevated for a second session. Spot silver fell 1.9% to $59.02 an ounce, platinum rose 0.3% to $1,635.55, and palladium was unchanged at $1,125.
